GREINER-MALTZ SELLS 18-ACRE TUSCAN DAIRY SITE
Moonachie, NJ, February 2, 2015 – Greiner-Maltz of New Jersey is pleased to announce the sale of the former Tuscan Dairy site, located at 750 Union Avenue, Union, New Jersey to Chicago-based Bridge Development Partners LLC. Ray Musalo, Managing Partner of Greiner-Maltz, represented both the buyer and the seller, Industrial Realty Group.
Bridge Developments plans to demolish the existing structures on the property and then build a 263,415 sf, State-of-the-Art Distribution Center; having 36 ft. ceiling heights, ESFR Sprinkler, 50 tailboards, 116 Trailer Positions, and parking for 150 cars. The property will be designed to accommodate up to two tenants, with building completion expected by November 2015. Greiner-Maltz will be jointly marketing the property with Jones Lang LaSalle.
“This is a premier opportunity in the New Jersey market,” says Bridge principal Jeff Milanaik. We are focused on finding infill opportunities in North and Central New Jersey that have previously been overlooked due to the complexities of the property. These markets are experiencing a strong demand for quality Class-A industrial facilities. This highly desirable project fits that need and will showcase the type of product we will continue to deliver in the Northeast.”
Cornerstone Architects will do architectural and structural design, with Premier Design and & Build National, LLC serving as general contractor.
The project is located within six miles of the Port of New Jersey, with direct access via Route 22 and Route 287, and easy access from the Garden State Parkway and I-78. The site offers excellent visibility from both I-78 and the Garden State Parkway, as it sits directly in the northwest quadrant of the interchange.
This is the first major project for Bridge since opening a new office in Parsippany, NJ, in September 2014, Principals Jeffrey J. Milanaik and John Porcek oversee operations of the office.
With this acquisition and anticipated project, Bridge will have developed and/or acquired more than 8.1 million square feet of investment-grade industrial and office buildings. The firm currently has more than $350 million of new industrial developments underway.
About Greiner-Maltz
Since 1953 Greiner-Maltz has been engaged exclusively in the leasing, selling, appraising and managing of industrial, commercial, and investment property in Manhattan, Brooklyn, Queens, Long Island, New Jersey, Westchester, and Connecticut. The firms five offices are actively managed by Principals: John Maltz and Sharone Levy in Brooklyn and Queens; Swain Weiner, metro area investments; Tom Attivissimo in Long Island, Raymond Musalo in New Jersey, and Ayall Schanzer in Westchester. www.GreinerMaltz.com